Tax Credits - Pacific Autogas

GET YOUR
TAX CREDITS

Tax credits are available for the Alternative Fuel Tax Credit and the Alternative Fuel Vehicle Refueling Property Tax Credit. They are retroactive for 2018, 2019, 2020 and prospectively for 2021.

The Alternative Fuel Tax Credit provides $.37/gallon credit on the sale of propane when used as a motor fuel (motor vehicles and forklifts).

The Alternative Fuel Infrastructure Tax Credit provides an income tax credit equal to 30% of the cost of the qualified alternative fuel vehicle refueling property.

Be sure to contact your tax professional to confirm your eligibility and complete the appropriate forms. Your monetary return may be significant.

IRS Forms: Submit Before December 31, 2021

Form 8849, Claim for Refund of Excise Taxes

Schedule 3 (Form 8839)

Form 637, Application for Registration (For Certain Excise Tax Activities)

Form 720, Quarterly Federal Excise Tax Return

Form 4136, Credit for Federal Tax Paid on Fuels

Alternative Fuel
Tax Credits

The Alternative Fuel Tax Credit is available to any individual or entity that:

Sells “alternative fuel” (propane) for use in a motor vehicle or motorboat within the United States, or
Uses the “alternative fuel” (propane) for such a purpose in the united States.

The amount of the credit equates to approximately 37 cents per gallon of propane (50 cents per gasoline gallon equivalent).

Alternative Fuel Vehicle
Refueling Property Credit

The IRS Code (Section 30C) provides for a nonrefundable income tax credit equal to 30% of the cost of “qualified alternative fuel vehicle refueling property” that includes property used for the storage or dispensing of a “clean burning fuel” (propane) into the fuel tank of a motor vehicle propelled by propane, but only if propane is stored or dispensed where propane is delivered into the fuel tank of vehicles.

For business property – credit cap at $30,000 per location annually.

For non-business property – credit cap at $1,000.